No single developer dominates Dubai's off-plan market now. In 2023 Emaar sold more than one in five of the city's registered off-plan homes and took 28.1% of the money. By January–September 2026 its share of sales by number was 8.3%, and first place by count had changed hands twice, to Binghatti in 2025 and then to Azizi in 2026. Emaar still leads by value every year, though in 2026 only just, with DAMAC level.
Below are the annual shares, by number of sales and by value, for every developer that has ranked in Dubai's top ten since 2023. Each year is calculated on its own, so the shares can be compared over time even though DLD changed its record feed in February 2026.
Who are the biggest property developers in Dubai?
Table: share of Dubai's registered off-plan home sales by number, by developer brand, 2023 to January–September 2026. Rank in brackets. Off-plan sales in our record: 89,555 (2023), 142,923 (2024), 179,630 (2025), 107,456 (Jan–Sep 2026). Source: DLD registered sales, developers consolidated to brand, Peak Trust Research.
| Developer | 2023 | 2024 | 2025 | 2026 (Jan–Sep) |
|---|---|---|---|---|
| Azizi | 5.0% (4) | 6.3% (3) | 2.5% (9) | 12.6% (1) |
| DAMAC | 4.0% (7) | 5.8% (4) | 6.0% (4) | 8.7% (2) |
| Emaar | 22.4% (1) | 19.3% (1) | 11.0% (2) | 8.3% (3) |
| Binghatti | 4.1% (5) | 5.4% (5) | 11.9% (1) | 8.0% (4) |
| Nakheel | 1.2% (16) | 2.1% (9) | 4.3% (5) | 3.3% (5) |
| Sobha | 5.8% (3) | 8.4% (2) | 7.5% (3) | 3.2% (6) |
| Danube | 6.2% (2) | 5.1% (6) | 3.5% (7) | 3.1% (7) |
| Imtiaz | 0.9% (19) | 1.7% (12) | 2.1% (10) | 3.0% (8) |
| Samana | 2.4% (12) | 3.8% (7) | 3.6% (6) | 3.0% (9) |
| Ellington | 2.6% (11) | 1.9% (10) | 2.0% (11) | 2.7% (10) |
| Dubai Properties | 4.0% (6) | 2.8% (8) | 2.8% (8) | 2.0% (11) |
| Meraas | 3.3% (9) | 1.4% (16) | 1.6% (14) | 1.3% (15) |
| Nshama | 3.3% (8) | 1.9% (11) | 1.2% (17) | 1.1% (18) |
| Select Group | 3.0% (10) | 1.5% (14) | 0.5% (35) | 0.5% (29) |
Emaar's share by count has more than halved, from 22.4% of off-plan sales in 2023 to 11.0% in 2025 and 8.3% in 2026. That is about share, not necessarily a fall in sales. The registered off-plan market roughly doubled between 2023 and 2025, and Emaar's count stayed about where it was.
The volume leaders sell mostly affordable flats, and first place changes hands quickly. Binghatti nearly tripled its share between 2023 and 2025 to take the top spot. Azizi dropped to ninth in 2025, then jumped to first in 2026, with more than half of its 2026 off-plan sales at Azizi Venice in Dubai South. One large, low-ticket scheme moved it eight places in a year.
A few names have dropped out of the top ten. Select Group, Nshama and Meraas were all in it by count in 2023, and none of them is in 2026. Imtiaz went the other way, from 19th to eighth.
Who leads by value?
Table: share of Dubai's registered off-plan sales value, by developer brand, 2023 to January–September 2026. Source: DLD registered sales, Peak Trust Research.
| Developer | 2023 | 2024 | 2025 | 2026 (Jan–Sep) |
|---|---|---|---|---|
| Emaar | 28.1% | 27.4% | 15.9% | 10.3% |
| DAMAC | 5.7% | 5.5% | 5.1% | 10.1% |
| Binghatti | 1.8% | 4.0% | 8.8% | 5.9% |
| Nakheel | 4.3% | 2.6% | 4.8% | 5.4% |
| Azizi | 1.7% | 2.9% | 1.0% | 4.9% |
| Sobha | 6.2% | 8.9% | 7.1% | 3.9% |
| Omniyat | 1.9% | 2.1% | 1.3% | 3.8% |
| Meraas | 8.3% | 2.9% | 4.6% | 3.5% |
| Danube | 3.1% | 3.9% | 2.6% | 2.9% |
| Ellington | 2.6% | 2.9% | 2.3% | 2.9% |
| Dubai Properties | 4.4% | 3.3% | 4.5% | 2.7% |
Value reshuffles the order. Azizi, first by count in 2026, is fifth by value at 4.9%. Omniyat sells a few hundred homes a year at most, yet took 3.8% of 2026's value, more than Danube or Ellington. DAMAC's 10.1% of 2026 off-plan value is the highest share it has held in the period and puts it level with Emaar.
Count all residential sales, ready resales included, and Emaar's value share is higher, because so many of Dubai's completed homes are in its communities. On that measure it fell from 27.4% in 2023 to 13.9% in January–September 2026 and is still first, with DAMAC second at 8.1%.
Who are the top 20 property developers in Dubai?
Table: the 20 largest Dubai developers by registered off-plan home sales, January–September 2026, with the value of those sales. Off-plan sales in our record: 107,456, worth AED 242.0bn. Source: DLD registered sales, developers consolidated to brand, Peak Trust Research.
| Rank | Developer | Off-plan sales | Share of sales | Value (AED bn) | Share of value |
|---|---|---|---|---|---|
| 1 | Azizi | 13,528 | 12.6% | 11.8 | 4.9% |
| 2 | DAMAC | 9,353 | 8.7% | 24.3 | 10.1% |
| 3 | Emaar | 8,936 | 8.3% | 24.9 | 10.3% |
| 4 | Binghatti | 8,608 | 8.0% | 14.4 | 5.9% |
| 5 | Nakheel | 3,507 | 3.3% | 13.0 | 5.4% |
| 6 | Sobha | 3,396 | 3.2% | 9.4 | 3.9% |
| 7 | Danube | 3,286 | 3.1% | 7.1 | 2.9% |
| 8 | Imtiaz | 3,235 | 3.0% | 4.6 | 1.9% |
| 9 | Samana | 3,171 | 3.0% | 3.7 | 1.5% |
| 10 | Ellington | 2,902 | 2.7% | 7.0 | 2.9% |
| 11 | Dubai Properties | 2,164 | 2.0% | 6.4 | 2.7% |
| 12 | Beyond | 1,600 | 1.5% | 6.4 | 2.6% |
| 13 | Reportage | 1,566 | 1.5% | 1.9 | 0.8% |
| 14 | JAG | 1,557 | 1.4% | 2.5 | 1.0% |
| 15 | Meraas | 1,413 | 1.3% | 8.4 | 3.5% |
| 16 | Deyaar | 1,222 | 1.1% | 2.1 | 0.9% |
| 17 | Union Properties | 1,193 | 1.1% | 1.9 | 0.8% |
| 18 | Nshama | 1,140 | 1.1% | 1.8 | 0.7% |
| 19 | Vision | 991 | 0.9% | 1.1 | 0.5% |
| 20 | Leos | 868 | 0.8% | 1.4 | 0.6% |
The top 20 took 68.5% of off-plan sales by number and 63.7% by value. Below tenth place the gaps are small: Dubai Properties in 11th sold 2,164 homes and Leos in 20th sold 868. Value tells a different story in the lower half. Meraas sold 1,413 homes worth AED 8.4bn, while Reportage sold 1,566 worth AED 1.9bn.
Is the market getting more concentrated?
Table: share of Dubai's registered off-plan home sales taken by the largest five and ten developers, by number of sales. Source: DLD registered sales, Peak Trust Research.
| Period | Top 5 | Top 10 | Off-plan share of all residential sales |
|---|---|---|---|
| 2023 | 43.5% | 61.2% | 56.9% |
| 2024 | 45.2% | 60.9% | 65.5% |
| 2025 | 40.6% | 55.1% | 69.7% |
| 2026 (Jan–Sep) | 40.9% | 55.8% | 72.9% |
| Q3 2026 only | 52.5% | 67.5% | 72.5% |
Over full years, no. The top ten's share has drifted down while off-plan grew from 56.9% to 72.9% of residential sales and more mid-sized developers came in. A single quarter can look very different: in Q3 2026 the top ten took 67.5%, almost entirely because Azizi took 27.0%. The quarter in detail is in the Developer League Table Q3 2026.
Why do published market shares disagree?
Search for Dubai developer market share and you'll find Emaar quoted at very different levels, with different names in second place. Even on our own record, Emaar's share runs from 8.3% to 28.1% depending on the measure and the year. Most of the gap comes from four choices:
- Count or value. Emaar ranks far higher by value than by count, and Azizi and Binghatti the reverse.
- Off-plan only, or all sales. Ready-home sales are mostly owners reselling homes a developer finished years ago, so counting them favours developers with large completed communities. Off-plan sales are mostly the developer's own selling.
- Brand or legal entity. DLD registers projects under many company names, and Emaar alone sells through more than ten. Rank by legal entity and the big brands split into smaller pieces. Some sources also credit a master-community landowner with every project built on its land.
- The period. A lifetime or multi-year share mostly reflects history, while a year or a quarter reflects current selling.
That is why two honest 2025 rankings can differ. Our 2025 off-plan count puts Binghatti first with 21,299 sales (11.9%) and Emaar second with 19,736 (11.0%). Count all residential sales, ready resales included, and the order flips: Emaar first with 31,731 (12.3%), Binghatti second with 23,598 (9.2%) and DAMAC third with 15,134 (5.9%). Each is right on its own terms.
How we count
Residential sales means apartments and villas registered with the Dubai Land Department; land and commercial property are left out. Off-plan means sales DLD registers as off-plan, which includes a small share of buyers reselling before completion. Developers are consolidated to the consumer brand, and master-community landowners aren't credited with other developers' projects. We don't merge group parents, so Nakheel, Meraas and Dubai Properties appear separately.
A small share of sales has no developer on the record: 0.2% to 0.6% of off-plan sales in 2023–2025 and 4.0% in 2026. These stay in the total, so every share is of the whole market, and 2026 shares are slightly understated as a result. Because of the February 2026 feed change, we compare shares across years, never the underlying counts.
What it means for developers
- Choose the measure before you quote a rank. A developer that leads by count will be challenged by one that leads by value, and the other way round, so name the measure and the period.
- Share moves on launches. Imtiaz went from 19th to eighth and Azizi from ninth to first on a handful of large schemes. A strong launch year can win a top-five place, but it doesn't hold one.
- Value share shows how much buyers are paying per home. DAMAC's rise to 10.1% of 2026 off-plan value came with a rise by count too, from 6.0% to 8.7%. Emaar's value share has been above its count share every year because its buyers pay more per home.
- The middle of the market is crowded. The top ten hold just over half of off-plan sales, so nearly half goes to developers outside it. Most launches are competing with many mid-sized sellers, not with Emaar.
We update this guide each year and the Developer League Table every quarter. Lifetime figures for each developer are on our developer pages, and current market figures are on /analytics.
If you want this record for your own segment and area, see how we work with developers.
Peak Trust advises developers and investors. Rankings use registered DLD data only.